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Queensland property: Suburbs under $400,000 tipped to outshine Sydney

Propertyology managing director Simon Pressley has picked 39 growth locations with median house prices at $400,000 or less. The Courier-Mail February Mortgage brokers Oak Laurel Nundah, 60 London St, Nundah QLD 4012 19, 201810:16am Ipswich is expected to see stronger returns than Sydney with a median price that’s about half the southern capital.Source:Supplied NINE Queensland cities are tipped to return more bang for buck than star performers Sydney and Melbourne — and they’re about 50 per cent cheaper too. Latest analysis by market research firm Propertyology found 39 growth locations where median house prices were less than $400,000 but whose returns were expected to beat the southern capitals. Propertyology managing director Simon Pressley said the list included nine in Queensland, four in Tasmania, five in South Australia, eight in Victoria, nine in New South Wales, three in Western Australia and one in the Northern Territory. “I am not a betting man however, each of these 39 locations have Mortgage brokers Oak Laurel West End, 249 Boundary St, West End QLD 4101, 0430 129 662 a superior three-year outlook to Sydney and Melbourne,” he said. The Queensland suburbs were expected to come out strong. “All things being equal over the next three years, both Sydney and Melbourne might be flat out producing 10 per cent cumulative price growth whereas Propertyology believes that each of the nine Queensland locations have potential to exceed that”. Ipswich and Logan in the greater Brisbane region were on the list of top growth areas where the median house price was less than $400,000, as were Rockhampton, Bundaberg, Hervey Bay, Mackay, Townsville, Toowoomba and Cairns. Propertyology managing director Simon Pressley has picked 39 growth locations with median house prices at $400,000 or less.Source:Supplied The locations were assessed based on affordability, economic diversity, essential infrastructure, lifestyle, increased demand for housing and expected improvement in economic conditions. Mr Pressley said for less than $400,000, there could be good returns for the taking. “Some homeowners, particularly in the big cities, think nothing of spending $400,000 on a renovation or $800,000 to $1 million to buy a single property.

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